Schiff on Macroscopic: The Dollar Is Doomed

On his recent appearance on The Macroscopic Podcast, Peter lays out a constitutional case for sound money and connects it to current policy choices that he says are wrecking the dollar. He walks through the legal foundation for gold and silver, criticizes the Trump administration’s mix of tariffs and debt-driven policy, and warns that global actors are already voting with their balance sheets.

He opens by reminding listeners of the monetary limits the framers placed on federal power and why that matters today:

Well, I guess if you’re going to describe it as heresy, it’s more heresy to the conventional wisdom because I believe that in the monetary system that was established by the framers of the Constitution. And if you understand the Constitution, they have very limited powers given to the federal government. They only have the power to coin money and regulate its value. And by coining money, they mean gold and silver, which is the only metals which the states are authorized to make legal tender. The federal government is not authorized to make anything legal tender.